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Kinderhook Acquires Leonard, a Leading Truck Accessory, Trailer, and Shed Retailer

Kinderhook Acquires Leonard, a Leading Truck Accessory, Trailer, and Shed Retailer

March 4, 2021

New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today its acquisition of LAUB Holdings, LLC (“Leonard” or the “Company”) from Copeley Capital Management (“Copeley”).  Leonard represents Kinderhook’s 26th automotive / light-manufacturing platform since inception. Financial terms of the transaction were not disclosed.

Leonard is one of the largest full-service retailers of truck accessories, trailers, and sheds in the United States. In operation since 1963, Leonard is proud to serve its customers through 59 retail locations in the Southeast. The Company offers high-quality, complementary, specialized products geared towards professionals, do-it-yourself and do-it-for-me consumers, and truck enthusiasts. Leonard’s sheds are manufactured in the Company’s Mount Airy, North Carolina facility and its trailers are contract manufactured in the United States. Leonard’s assortment of truck accessories offers fit, function, and style for truck enthusiasts seeking to enhance their vehicle for both professional and recreational purposes.

“With a nearly 60-year heritage, Leonard is a high-profile brand in its core markets. The Leonard team is excited to partner with Kinderhook to build Leonard’s footprint and bring quality products and trusted service to even more customers,” said Mike Pack, Chief Executive Officer of Leonard.

“Leonard offers a unique opportunity to invest in a distinct business model with an experienced management team in a sector in which Kinderhook has deep experience. Kinderhook plans to leverage its relationships within the automotive aftermarket to help accelerate Leonard’s growth,” said Tom Tuttle, Managing Director of Kinderhook Industries.

“Kinderhook is excited to partner with Mike Pack and his executive leadership team as they continue the geographic expansion of Leonard’s unique retail model which provides for a high touch, in-person experience that is beneficial to customers who are in the market for high quality sheds, trailers, and truck accessories,” said Paul Cifelli, Managing Director of Kinderhook Industries.

Kirkland & Ellis LLP served as legal counsel to Kinderhook.  Piper Sandler & Co. served as the exclusive financial advisor and K&L Gates acted as legal advisor to Leonard and Copeley in connection with the transaction. Financing for the transaction was provided by Twin Brook Capital Partners, LLC.

For additional information about this transaction, please contact: 
Thomas Tuttle
Managing Director
(212) 201-6781
[email protected]
 
Paul Cifelli
Managing Director
(212) 201-6797
[email protected]
 
Nate Druckenmiller
Vice President
(212) 201-6791
[email protected]


About Kinderhook Industries

Founded in 2003, Kinderhook Industries, LLC is a private investment firm that manages over $5.4 billion of committed capital. We have made in excess of 375 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services, and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.

For more information, please visit https://www.kinderhook.com


About Leonard

Founded in 1963 and headquartered in Mount Airy, North Carolina, Leonard is a leading full-service specialty retailer of truck accessories, trailers, and sheds. Leonard’s complementary product categories help to serve the needs of customers both for work and recreation. The Company remains dedicated to service and is proud to offer truck accessories, trailers, and sheds that ensure fit, function, and style so that Leonard customers are ready for work and ready to stand out in a crowd.

For more information, please visit https://www.leonardusa.com/

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